American International Group Inc. Sells 14,122 Shares of PayPal Holdings, Inc. (PYPL)
American International Group Inc. lessened its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 498,166 shares of the credit services provider’s stock after selling 14,122 shares during the period. American International Group Inc.’s holdings in PayPal Holdings were worth $31,898,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. Portland Hill Asset Management Ltd acquired a new position in PayPal Holdings during the 1st quarter worth approximately $9,731,000. Lazard Asset Management LLC increased its position in PayPal Holdings by 3,139.6% during the 1st quarter. Lazard Asset Management LLC now owns 94,208 shares of the credit services provider’s stock worth $4,052,000 after purchasing an additional 91,300 shares during the period. RMB Capital Management LLC boosted its stake in shares of PayPal Holdings by 3.4% during the 1st quarter. RMB Capital Management LLC now owns 79,323 shares of the credit services provider’s stock worth $3,412,000 after acquiring an additional 2,640 shares in the last quarter. Saybrook Capital NC boosted its stake in shares of PayPal Holdings by 7.2% during the 1st quarter. Saybrook Capital NC now owns 102,455 shares of the credit services provider’s stock worth $4,408,000 after acquiring an additional 6,900 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in shares of PayPal Holdings by 2,792.8% during the 1st quarter. BlackRock Inc. now owns 60,103,922 shares of the credit services provider’s stock worth $2,585,670,000 after acquiring an additional 58,026,239 shares in the last quarter. Hedge funds and other institutional investors own 82.77% of the company’s stock.
Several brokerages have recently commented on PYPL. Oppenheimer Holdings, Inc. boosted their price target on PayPal Holdings from $50.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Wells Fargo & Company boosted their price target on PayPal Holdings from $65.00 to $70.00 and gave the stock a “market perform” rating in a research note on Friday, October 20th. Craig Hallum set a $93.00 price target on PayPal Holdings and gave the stock a “buy” rating in a research note on Monday. Cowen and Company reissued a “market perform” rating and set a $52.00 price target (up previously from $48.00) on shares of PayPal Holdings in a research note on Thursday, July 27th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $70.00 price target on shares of PayPal Holdings in a research note on Thursday, July 27th. Ten analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $73.11.
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PayPal Holdings, Inc. (PYPL) traded down $0.20 during mid-day trading on Thursday, reaching $77.57. The company had a trading volume of 7,975,445 shares, compared to its average volume of 7,650,120. PayPal Holdings, Inc. has a 12-month low of $38.06 and a 12-month high of $78.43. The stock has a market cap of $93,230.00 and a price-to-earnings ratio of 55.55.
PayPal Holdings (NASDAQ:PYPL) last issued its quarterly earnings results on Thursday, October 19th. The credit services provider reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. PayPal Holdings had a return on equity of 11.33% and a net margin of 12.69%. The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same quarter in the prior year, the company posted $0.35 EPS. The business’s revenue for the quarter was up 21.4% compared to the same quarter last year. equities research analysts anticipate that PayPal Holdings, Inc. will post 1.37 EPS for the current fiscal year.
About PayPal Holdings
PayPal Holdings, Inc is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants. The Company’s combined payment solutions, including its PayPal, PayPal Credit, Braintree, Venmo, Xoom and Paydiant products, compose its Payments Platform.
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